Tag Archive | “simplified bookkeeping”

Simplified Bookkeeping with Credit Cards

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Do you know that credit cards can actually help you keep track of your business bookkeeping? Business credit cards can help you not only separate your business and personal expenses, but also help you manage your finances. Usually many credit card companies which offer business credit cards also offer reports of your account. These reports may be generated whenever required or are at times automatically delivered to you each month or quarterly.

Business credit card reports can be of great help when it is time to look into to your bookkeeping records. The best thing about these reports is that when they are generated, in many cases they are categorized. For example, if you have multiple additional cards for your employees or partners, each card number will have its own part.simplified bookkeeping credit cards

These sections will define the usage of each number as well. This can not only help you determine where your expenses are going and whom they are going to, but also to if there is any fraudulent transaction taking place with the cards.

Another great thing about these reports is the fact that they can also be categorized by expense type. This means that you can also have reports, which will have sections regarding expense categories. Reports can include categories such as travel, gas and fuel, office supplies expenses, food and hotel expenses, or miscellaneous expenses. This is brilliant for your bookkeeping records. It allows you to simply look at your reports and put appropriate amounts in the appropriate categories.

These reports are also offered in digital form. The digital form of the reports can actually save you a great deal of time as well. Just think, if you download the report in the right format, you can transfer it directly into your financial or accounting software program and it most cases it will read the file and put the items where they need, without much help from you.

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August 2011
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